§ 483. Resources of the fund.
1.The fund may receive, accept,\ninvest, administer, expend and disburse for its corporate purposes\nappropriations or advances from the city of Yonkers, and other revenues\nand moneys made available or to be made available to the fund from any\nor all sources, including gifts, grants, loans and payments from the\nfederal government, any state agency, any private foundation,\norganization or individual, or any other source, for the construction,\nacquisition, reconstruction, rehabilitation and improvement of combined\noccupancy structures, for the maintenance and repair of such structures,\nor for the costs of personal service and maintenance and operation of\nthe fund.\n 2. All moneys of the fund, except as otherwise authorized or provided\nin this artic
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§ 483. Resources of the fund. 1. The fund may receive, accept,\ninvest, administer, expend and disburse for its corporate purposes\nappropriations or advances from the city of Yonkers, and other revenues\nand moneys made available or to be made available to the fund from any\nor all sources, including gifts, grants, loans and payments from the\nfederal government, any state agency, any private foundation,\norganization or individual, or any other source, for the construction,\nacquisition, reconstruction, rehabilitation and improvement of combined\noccupancy structures, for the maintenance and repair of such structures,\nor for the costs of personal service and maintenance and operation of\nthe fund.\n 2. All moneys of the fund, except as otherwise authorized or provided\nin this article, shall be paid to the comptroller of the city of Yonkers\nas agent of the fund, who shall not commingle such moneys with any other\nmoneys. Such moneys shall be deposited in two or more separate bank\naccounts. The moneys in any account shall be paid out of checks signed\nby the commissioner of finance on requisition of the chairman of the\nfund or of such other officer or employee or officers or employees as\nthe fund shall authorize to make such requisition. All deposits of such\nmoney shall, if required by the comptroller or the trustees of the fund,\nbe secured by obligations of the United States or of the city or the\nstate of a market value equal at all times to the amount of the deposit\nand all banks and trust companies are authorized to give such security\nfor such deposits.\n 3. Subject to the terms of any lease, sublease or other agreement\nundertaken by the fund, any such moneys of the fund not required for\nimmediate use may, at the discretion of the fund, be invested by the\ncommissioner of finance in obligations of the United States, the state\nor the city or in obligations the principal and interest of which are\nguaranteed by the United States, the state or the city.\n 4. The chairman of the fund shall annually, on or before January\nfirst, prepare and submit to the mayor of the city of Yonkers, on behalf\nof the trustees of the fund, an itemized budget for the administration\nof the fund during the city's next succeeding fiscal year and\ninformation as to the payment or provision for payment of obligations of\nthe fund expected to be required during such year.\n 5. The commissioner of finance, or his legally authorized\nrepresentative, is hereby authorized and empowered from time to time to\nexamine the books and accounts of the fund including its receipts,\ndisbursements, contracts, reserves, investments, and any other matters\nrelating to its financial standing. Such an examination shall be\nconducted by the commissioner of finance at least once in every five\nyears; the commissioner of finance is authorized, however, to accept\nfrom the fund, in lieu of such an examination, an external examination\nof its books and accounts made at the request of the trustees of the\nfund.\n